Credit card travel insurance can be a good starting point, but it may not be enough for your needs. You should review the details of your credit card’s travel insurance policy to make sure it covers what you need. If it doesn’t, you may want to consider purchasing separate travel insurance.

While some credit cards provide emergency travel medical insurance, the coverage limits are often much lower than those offered by standalone travel insurance policies. Additionally, coverage duration may be restricted to a few days or weeks, leaving longer trips unprotected.

If your credit card includes travel insurance, you may be reimbursed if your travel is affected by weather, health issues or certain kinds of emergencies outside your control. Typically, credit card travel insurance only covers the expenses that you charge to that specific card.

What to consider

• Coverage limits: Credit card travel insurance may have lower coverage limits for medical treatment, trip cancellation, and baggage loss than standalone travel insurance.
• Coverage duration: Credit card travel insurance may only cover you for a few days or weeks.
• Gaps in coverage: Credit card travel insurance may not cover everything you need, so you may need supplemental coverage.
• Claims process: You may need to provide a detailed reason for a cancelled trip and show that you used your credit card for the purchase.
• Annual card fees: Better coverage may come with higher annual card fees
• Travel frequency: If you don’t travel frequently, supplemental insurance may not be worth the cost
• Policy exclusions: Review the policy’s exclusion list

What you can do

• Review your credit card’s travel insurance policy to understand its limitations and exclusions.
• Consider purchasing separate travel insurance if your credit card’s coverage doesn’t meet your needs.
• Inform your credit card company of your travel plans to avoid fraud.

Travel Insurance vs. Your Credit Card’s Travel Coverage

For Canadian travellers, comprehensive travel insurance is generally the better choice over relying solely on a credit card’s travel coverage. Here’s why:

Coverage Differences

• Travel Insurance: A standalone policy typically provides extensive coverage for emergency medical expenses, trip cancellations, interruptions, lost baggage, and sometimes even flight delays.
• Credit Card Travel Coverage: While some premium credit cards offer travel benefits, coverage is often limited in scope and amount. Many cards only cover trip cancellations and lost luggage but not medical emergencies.

Medical Emergency Expenses

• Travel Insurance: Provides emergency medical coverage, including hospital stays, ambulance services, doctor’s fees, and sometimes even emergency repatriation back to Canada.
• Credit Card: Many do not include medical coverage at all, and those that do often have strict limitations (e.g., coverage for only a few days or only for cardholders under a certain age).

When coverage is limited, out-of-pocket costs can soar. Medical bills can add up quickly, especially in the US, where an average night in a hospital costs about $16,000. Without the right coverage, you could pay thousands out-of-pocket.

Trip Cancellation and Interruption

• Travel Insurance: Typically offers higher limits and covers more reasons for cancellations, such as illness, family emergencies, or even severe weather.
• Credit Card: May cover trip cancellation but usually has lower coverage limits and fewer valid reasons for claiming.

Trip Duration and Age Limits

• Travel Insurance: You can choose the length of coverage, which is ideal for long trips or snowbirds staying in warmer climates for months.
• Credit Card: Often has a maximum coverage period (e.g., 15-30 days), and some policies exclude travellers over a certain age.

Pre-Existing Medical Conditions

• Travel Insurance: Some policies allow you to add coverage for pre-existing conditions.
• Credit Card: Usually excludes any pre-existing conditions outright.

Claims Process and Customer Support

• Travel Insurance: Dedicated insurance providers typically offer 24/7 assistance and faster claims processing.
• Credit Card: You may need to deal with third-party administrators, which can be slower and more difficult to claim from.

Rental Car Coverage

• Travel Insurance: Some plans offer optional car rental insurance.
• Credit Card: Many premium cards include rental car coverage but not liability insurance, which can leave you exposed.

Did you book the entire trip on your credit card?

If not, your insurance may be void. Confirm how much of your trip needs to be booked on your card before you travel, so you aren’t left without enough protection while away.

What about your travel companion?

Not many credit cards provide coverage for your travel companion.

Your medical history could sink your card’s coverage

If you have a pre-existing medical condition, you typically won’t be covered by a credit card if you’re 65+, or you’ll have to meet strict requirements if you’re under 65.

Don’t miss out on extreme sports and adventures

If you’re planning on anything more than snorkeling, your card’s travel coverage won’t cut it. With travel insurance you can have coverage for many sports and activities like backcountry skiing, mountaineering, or skydiving.

Travel Insurance Wins

While credit card coverage can provide some benefits, it is often not enough for medical emergencies or long trips. Travel insurance offers more comprehensive, customizable, and reliable protection, making it the better choice for Canadian travellers – especially when leaving the country.

If you want affordable, peace-of-mind coverage, travel insurance is the way to go!

What OHIP Covers Abroad

OHIP (Ontario Health Insurance Plan) does not fully cover medical emergencies abroad. If you’re traveling outside Canada, you should always have travel medical insurance because OHIP coverage is extremely limited

If you have a medical emergency while traveling outside Canada, OHIP may reimburse you for some expenses, but only up to:

• $400 CAD per day for emergency inpatient hospital services.
• $50 CAD per day for outpatient services (e.g., ER visits, doctor consultations).

However:

• Many hospitals abroad charge thousands per day for medical care.
• OHIP does not pay upfront – you must pay first and apply for reimbursement.
• Ambulance services, surgeries, prescriptions, and specialist fees are not covered.

Why OHIP is not enough for Travel Medical Emergencies

Medical Costs Are Much Higher Abroad

• A hospital stay in the U.S. can cost $10,000+ per night.
• Emergency surgery can cost $50,000+.
• OHIP’s $400 per day limit won’t come close to covering these costs.

You Must Pay First, Then Request Reimbursement

If you don’t have travel insurance, you might have to pay the full bill upfront.

OHIP Does Not Cover Medical Evacuation

If you need an air ambulance back to Canada, it can cost $25,000 – $100,000, and OHIP won’t pay for it.

Attention: OHIP Alone is NOT Enough

Always buy travel medical insurance before leaving Ontario. Relying on OHIP abroad is risky and could leave you with huge medical bills if you face a serious emergency.

Travel Medical Emergency Insurance is Your Best Bet

A travel medical insurance policy will cover hospital bills, doctor visits, ambulance services, and even emergency repatriation. It usually provides millions in coverage (e.g., $1M to $5M per policy). You won’t have to pay upfront – insurance companies pay directly to the hospital.